Western Alliance Bancorporation (NYSE:WAL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Western Alliance Bancorporation (NYSE:WAL) had its target price boosted by equities research analysts at Wells Fargo & Company from $92.00 to $102.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the financial services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.49% from the stock’s previous close.

Several other analysts have also weighed in on WAL. Wedbush raised their price objective on shares of Western Alliance Bancorporation from $90.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised shares of Western Alliance Bancorporation from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $101.00 in a report on Monday, October 7th. Piper Sandler lowered their price target on shares of Western Alliance Bancorporation from $102.00 to $101.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Truist Financial lowered their price target on shares of Western Alliance Bancorporation from $100.00 to $95.00 and set a “buy” rating for the company in a report on Monday, October 21st. Finally, Royal Bank of Canada set a $99.00 price target on shares of Western Alliance Bancorporation and gave the company an “outperform” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.40.

Western Alliance Bancorporation Stock Performance

NYSE WAL opened at $92.32 on Tuesday. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 1.47 and a beta of 1.45. The company has a 50 day moving average of $88.14 and a 200-day moving average of $77.27. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.61. Western Alliance Bancorporation has a 1-year low of $53.22 and a 1-year high of $98.10.

Western Alliance Bancorporation (NYSE:WAL) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.90 by ($0.10). The firm had revenue of $833.10 million for the quarter, compared to analyst estimates of $811.40 million. Western Alliance Bancorporation had a return on equity of 13.16% and a net margin of 14.66%. On average, equities analysts forecast that Western Alliance Bancorporation will post 7.14 earnings per share for the current fiscal year.

Insider Transactions at Western Alliance Bancorporation

In other news, Director Robert P. Latta sold 2,996 shares of Western Alliance Bancorporation stock in a transaction on Monday, September 9th. The shares were sold at an average price of $82.75, for a total transaction of $247,919.00. Following the transaction, the director now directly owns 4,056 shares of the company’s stock, valued at $335,634. This trade represents a 42.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.75% of the company’s stock.

Institutional Investors Weigh In On Western Alliance Bancorporation

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in Western Alliance Bancorporation by 58.4% in the 3rd quarter. Blue Trust Inc. now owns 507 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 187 shares in the last quarter. UMB Bank n.a. lifted its position in Western Alliance Bancorporation by 136.8% in the 3rd quarter. UMB Bank n.a. now owns 431 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 249 shares in the last quarter. Signaturefd LLC lifted its position in Western Alliance Bancorporation by 18.7% in the 3rd quarter. Signaturefd LLC now owns 1,598 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 252 shares in the last quarter. Wedmont Private Capital increased its stake in Western Alliance Bancorporation by 5.7% in the 3rd quarter. Wedmont Private Capital now owns 5,102 shares of the financial services provider’s stock valued at $429,000 after buying an additional 276 shares during the last quarter. Finally, Creative Planning increased its stake in Western Alliance Bancorporation by 6.1% in the 2nd quarter. Creative Planning now owns 5,756 shares of the financial services provider’s stock valued at $362,000 after buying an additional 330 shares during the last quarter. 79.15% of the stock is owned by institutional investors.

About Western Alliance Bancorporation

Western Alliance Bancorporation operates as the bank holding company for Western Alliance Bank that provides various banking products and related services primarily in Arizona, California, and Nevada. It operates through Commercial and Consumer Related segments. The company offers deposit products, including checking, savings, and money market accounts, as well as fixed-rate and fixed maturity certificates of deposit accounts; demand deposits; and treasury management and residential mortgage products and services.